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XL Carriers Knew of Goff Problems before Alabama Deal

Monday, April 7, 2008 | 0

The two insurers whose $4 million civil judgment helped trigger Wednesday's indictment of John W. Goff knew he had failed to return $1 million in premiums to another carrier and set up a complex premium-finance mechanism to avoid future troubles with the prominent Montgomery, Ala., insurance broker.But the arrangement, which involved The Goff Group and hundreds of independent agents across the Southeast, failed and Goff withheld $3 million in workers' compensation premiums owed to XL Specialty Insurance Co. and Greenwich Insurance Co., a federal grand jury charges in a 20-page indictme...

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